Ethereum News: Ethereum Eyes $10K as Bullish Megaphone Pattern Forms, Analysts Say

AI Summary

Key Takeaways

A megaphone pattern on ETH’s weekly chart suggests a potential rally toward $10,000.

Clearing $5,000 resistance could liquidate up to $5 billion in short positions.

Analysts warn of short-term volatility, but maintain ETH is “bullish for years.”

Ethereum (ETH) is showing signs of entering a multi-year bullish cycle, with analysts pointing to a technical megaphone pattern that could eventually push prices toward $10,000.

At press time, ETH trades at $4,511, with immediate resistance near $5,000. A breakout above that level could trigger as much as $5 billion in short liquidations, potentially accelerating upward momentum, according to CoinGlass data.